Sical Logistics Ltd sells non-core asset in Madhavaram, Chennai for Rs. 29 crores

Sical Logistics Limited ("Company") has undertaken the sale of its non-core assets situated in Madhavaram Village, Chennai.

The said non-core assets comprised of all the piece and parcel of the vacant land admeasuring 1.37 acres situated at T.S. No.13/1, Ward 'D', Block No.55, situated in Madhavaram Village and Taluk, Chennai District, Iamil Nadu. Ihc sale has been executed today, i.e., September 04, 2025, on such terms and conditions as set out in the sale deed.

The sale of non-core assets is in line with the resolution plan for the company submitted by Pristine Malwa Logistics Park Private Limited and approved by the Hon'ble National Company Law Tribunal, Chennai bench, under Section 31 of Insolvency and Bankruptcy Code, 2016, as amended, vide its order dated December 08, 2022.

The consideration received from the above sale is Rs. 29,00,00,000/- (Rupees twenty-nine crone only)

Source : Equity Bulls

Keywords

SicalLogistics NonCoreAssets MadhavaramVillage Chennai LandSale